Nexus Issues/Leaving New Jersey: Effectively Changing Tax Residency (E1911739)

Leaving New Jersey: Effectively Changing Tax Residency
Parag Patel, JD, LL.M.
With the new reduction in the deductibility of state and local taxes, many clients are exploring leaving New Jersey. Although changing a client’s residence from a high-tax state (i.e., NJ, NY) to a low, or no-tax state (i.e., FL) can dramatically reduce the amount of state taxes paid, high-tax states have inflexible residency rules and do not let their residents leave easily. We will identify state tax residency rules and methods to effectively change tax domicile, and explore planning opportunities to minimize state income and inheritance taxes. New Jersey and Florida tax attorney, Parag Patel, of FLResidency.com, has counseled numerous clients in tax residency planning.

Nexus Issues
Chuck Lukens, CPA and Frank Czekay, CPA, JD, LL.M.
In this session, learn what nexus is, and how it the South Dakota v. Wayfair decision changed it. The speaker will explore changes and trends, marketplace facilitator statutues, challenges, and what's to come.